Tax Law Blog

At the recent 34^th annual National Institute on Criminal Tax, the Department of Justice (DOJ) announced that it intended to impose stricter sentences in Foreign Bank Account Report (FBAR) cases. Under these new rules, violators could be subjected to...

Secret Swiss accounts, loose gems, and shell companies figured prominently in the case against a Connecticut resident who pled guilty to tax crimes and failure to report on offshore assets.

Recently filed charges against businessman and lobbyist Paul Manafort offer a wealth of advice and warning about foreign holdings and associated tax requirements.

Ongoing budget cuts appear to be weakening the enforcement efforts of the Criminal Investigation branch of the IRS, according to its most recent annual report.

If you are an American with foreign accounts living stateside or abroad, the foreign bank account report (FBAR) is an important annual obligation. Let’s talk about why.

For overseas holdings in excess of $10,000, US residents are required to file a Report of Foreign Bank and Financial Accounts (FBAR). One Connecticut man, with over $28 million in overseas accounts, failed to do so and has pleaded guilty to the...

A Beverly Hills resident was recently indicted by a federal grand jury for a slew of tax violations, including corruptly endeavoring to impede the internal revenue laws, filing false tax returns, claiming exemptions he did not qualify for, and...

It's a long-time notion that rich Americans stash their cash overseas accounts to avoid paying their dues to Uncle Sam. But, those lofty ideas are quickly fading. Three Southern California residents have been sentenced to prison for hiding millions...

The Internal Revenue Service (IRS) is cracking down on foreign accounts with an iron fist. This was made clear when a former professor at the University of Rochester was not only fined $100 million for failing to disclose foreign bank accounts in...

The more things change in Washington DC, the more things remain the same. Though administrations have changed, the Internal Revenue Service continues its pursuit of information about offshore bank accounts that might be used to hide assets and evade...